Cyber threat modeling

Potential economic loss across Asia Pacific due to cybersecurity incidents can hit a staggering US$1.745 trillion, or over 7 per cent of the region’s total GDP, according to a new study titled “Understanding the Cybersecurity Threat Landscape in Asia Pacific: Securing the Modern Enterprise in a Digital World”. Conducted by Frost & Sullvian and Microsoft, the study involved a survey of 1,300 business and IT decision makers ranging from mid-sized organisations with 250 to 499 employees to large ones with more than 500 employees. It found that more than half the organisations surveyed had either experienced a cybersecurity incident or were not sure if they had one since they did not perform proper forensic or data breach assessment. “As companies embrace the opportunities presented by cloud and mobile computing to connect with customers and optimise operations, they take on new risks,” Pham The Truong, country general manager, Microsoft … [Read more...] about Cyber crime threatens losses of $1.7 trillion in Asia Pacific

KUALA LUMPUR: Malaysia faces the possibility of incurring US$12.2 billion (US$1=RM4.04) in economic losses, which is 4% of its Gross Domestic Product (GDP) of US$296 billion, due to cyber security incidents. Based on a study by Microsoft and US consulting firm Frost & Sullivan, a large organisation in the country could incur losses of US$22.8 million, 630 times higher than an average company. "Cyber security attacks have resulted in job losses across different functions in three out of five organisations that have experienced cyber incidents over the last 12 months," Saipan Agarwal, Frost & Sullivan Asia Pacific Marketing Vice-President told a press conference here today. He explained that the loss was calculated on a model based on macro-economic data and insights shared by survey respondents. The losses could be in the form of direct financial losses while indirect losses may be in the form of reputation loss as a result of opportunity cost to the organisations and induced … [Read more...] about Cyber attacks may cost Malaysia US$12.2b in economic losses

How to secure your data and protect your business from cyber threats (philstar.com) - June 18, 2018 - 10:37am MANILA, Philippines — In light of recent data breaches and cyberattacks against businesses and institutions in both the public and private sector in the Philippines, the evolving global threat landscape, and the stricter enforcement of the National Data Privacy Act, Sophos, a global leader in network and endpoint security, highlights the need for organizations to update their IT systems and practices to better protect data. According to Julius Suarez, Sophos’ manager for engineering for the ASEAN regions, it is a must for companies to constantly beef up their security practices to keep up with the increasing number of cyber security threats. “With the growing incidences of ransomware, distributed-denial-of-service (DDOS) attacks, and cryptomining, among others, cybercrimes today are growing in … [Read more...] about How to secure your data and protect your business from cyber threats

caption NYC Cyber Command is quietly protecting New Yorkers — and Americans as a whole. source Shutterstock/littlenystock Most people have never heard of NYC Cyber Command (NYC3), but it is perhaps one of the most important government agencies in America’s biggest city. It is responsible for protecting the city from cyberattacks and other online threats that could have devastating consequences for millions of NYC’s residents. Although the Command is nearly two years old, most New Yorkers have no idea what it is or how it began – until now. NEW YORK – In the fall of 2012, President Barack Obama’s defense secretary, Leon Panetta, arrived to Manhattan’s west side to deliver an unprecedented speech about cyber warfare. Aboard the USS Intrepid, the legendary World War II aircraft carrier now functioning as a museum along the banks of the Hudson River, Panetta … [Read more...] about Inside New York City Cyber Command — a government agency most people know nothing about that’s leading America’s biggest city into the future

Cyber attacks are now the most serious threat facing the Swiss financial system, the CEO of the country's Financial Market Supervisory Authority (FINMA) said Tuesday. "The risks connected with these attacks are growing with the pace of global digitalization," Xinhua quoted the Chief Executive Mark Branson as saying. "Cyber attacks are now the most serious operational hazard facing the financial system, and both the private sector and public authorities should take them extremely seriously," he said. Branson said Switzerland must do more to deal with the growing threat of cyber attacks as he cited cyber threats such as malware he named as "Retefe" which attacks e-banking systems, with around 100 attacks a day. The FINMA head also cautioned that Switzerland is lagging on safety behind other financial centres such as the United States and Britain, which have central cyber-security centres. "We also need a common platform. It would bring together specialists from different branches and … [Read more...] about Cyber attacks pose serious threat to financial system: FINMA